Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Operating Revenues:        
Total operating revenues $ 562,283 $ 913,620 [1] $ 1,122,329 $ 1,690,838 [1]
Operating Expenses:        
Lease operating 76,788 72,940 [1] 151,890 140,268 [1]
Production and ad valorem taxes 24,706 44,873 [1] 57,427 82,551 [1]
Gathering, transportation and processing 27,338 23,267 [1] 53,315 44,042 [1]
Exploration 1,882 2,410 [1] 4,114 4,295 [1]
Depreciation, depletion and amortization 127,348 115,956 [1] 253,313 229,599 [1]
Impairment of oil and gas properties 406,898 0 406,898 0
General and administrative 29,768 20,175 [1] 57,566 47,232 [1]
Merger, integration and transaction 1,543 0 [1] 1,543 769 [1]
Total operating expenses 785,039 435,018 [1] 1,160,895 815,424 [1]
Income (Loss) From Operations (222,756) 478,602 [1] (38,566) 875,414 [1]
Other (Income) Expenses:        
Interest expense 47,239 46,995 [1] 93,545 94,091 [1]
(Gain) loss on derivative contracts (5,941) 81,648 [1] (31,586) 439,948 [1]
Loss on extinguishment of debt 0 42,417 [1] 0 42,417 [1]
Other (income) expense 54 1,051 [1] (6,360) 269 [1]
Total other (income) expense 41,352 172,111 [1] 55,599 576,725 [1]
Income (Loss) Before Income Taxes (264,108) 306,491 [1] (94,165) 298,689 [1]
Income tax benefit (expense) 156,212 (3,240) [1] 206,907 (3,153) [1]
Net Income (Loss) $ (107,896) $ 303,251 [1] $ 112,742 $ 295,536 [1],[2]
Net Income (Loss) Per Common Share:        
Basic (in dollars per share) $ (1.74) $ 4.92 [1] $ 1.83 $ 4.80 [1]
Diluted (in dollars per share) $ (1.74) $ 4.90 [1] $ 1.82 $ 4.77 [1]
Weighted Average Common Shares Outstanding:        
Basic (in shares) 61,856 61,679 [1] 61,741 61,583 [1]
Diluted (in shares) 61,856 61,909 [1] 61,939 61,956 [1]
Oil        
Operating Revenues:        
Total operating revenues $ 421,775 $ 619,812 [1] $ 831,331 $ 1,173,061 [1]
Natural gas        
Operating Revenues:        
Total operating revenues 14,423 64,913 [1] 38,009 108,889 [1]
Natural gas liquids        
Operating Revenues:        
Total operating revenues 40,629 75,530 [1] 83,999 143,148 [1]
Sales of purchased oil and gas        
Operating Revenues:        
Total operating revenues 85,456 153,365 [1] 168,990 265,740 [1]
Operating Expenses:        
Cost of purchased oil and gas $ 88,768 $ 155,397 [1] $ 174,829 $ 266,668 [1]
[1] Financial information for the prior period has been recast to reflect retrospective application of the successful efforts method of accounting. See “Note 2 - Summary of Significant Accounting Policies” for additional information.
[2] Financial information for the prior period has been recast to reflect retrospective application of the successful efforts method of accounting. See “Note 2 - Summary of Significant Accounting Policies” for additional information